RBI keeps AD Cat-I forex licenses exclusive to banks
NewsBytes | May 7, 2026 1:39 AM CST
RBI eases forex operational rules
RBI is making things a bit easier overall: businesses can now open new locations without waiting for RBI's green light, just report after.
Forex agents can team up with multiple authorized dealers, which should mean more options and better deals for customers.
Existing full-fledged money changers (FFMCs) can continue if they hit ₹10 crore in turnover and are no longer required to transition to AD Cat-II.
But RBI is widening permissions in important ways, including allowing forex correspondents to partner with multiple authorized dealers and expanding the scope of transactions for AD Cat-II entities, keeping things focused on compliance and proper oversight.
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